When Zombie Banks Walked the Earth 0
Bank profits up. On paper.
This appears to have more to do with eliminating “mark to market” than with improved business practices.
From Bloomberg.
The revival may be short-lived. Analysts who have examined the quarterly profits and government tests say that accounting rule changes and rosy assumptions are making the institutions look healthier than they are.
(snip)
But, hey, these guys are the geniuses who crashed the world economy.
They must know what they are doing.
And what’s Sarah Palin got to with it, anyway?